Enfinity Global has finalized the sale of a minority stake in its 400MW US operating portfolio to Japanese utility Kyushu Electric Power. With this transaction, Kyushu Electric now holds a 40% equity interest in the portfolio, while Enfinity Global retains 60% ownership and continues to serve as the long-term asset manager for the sites.
The deal, which was first agreed upon in September 2023, includes 28 operational solar PV power plants located in California, North Carolina, and Idaho. This move aligns with Enfinity Global's broader strategy to expand its presence in the US market, as it plans to build its 11.6GW proprietary pipeline in the country over the next few years.
In a statement, Enfinity Global chief executive Carlos Domenech expressed the company's strategic approach: “Our strategy is to partner with investors such as Kyushu Electric that share similar long-term values and goals in the energy markets where we operate. Enfinity is a natural partner for investors looking for scale in renewable energy, addressing decarbonization targets, and obtaining attractive returns while having a reliable operational partner on the ground. We are grateful for the trust Kyushu Electric has placed in Enfinity Global.”
